Companies could dent growth in the Worlds Largest economy. Still, the us president backed the striking workers call for a 40 pay raise, telling them they deserve a lot more than they are getting. You deserve the significant raise you need, and other benefits. Get back what we lost, 0k7 its about time they step up for us. Wall street didnt build the country. The middle class built the country. Unions built the middle class. Thats a fact so lets keep going. You deserve what youve earned, and youve earned a hell of a lot more than youre getting paid now. Thank you very much. Now, the Biden Administration has also been taking aim at the us tech sector. The competition regulator, the federal trade commission, has filed a lawsuit against amazon accusing it of protecting its Market Dominance in Online Retail at the expense of consumers and third 7 party sellers. Our north American Business correspondent erin delmore has its a case that has been in the works for years under the watchful eye of
The uae and most recently algeria. International Emergency Workers arejoining the recovery effort, with some saying the government response is too slow. The bbc s tom batemen sends this report. Dawn lights up the destruction in the village of moulay brahim. Morocco s most remote hillsides have become encampments of the survivors. Hakima has lost contact with her son, who fled the village, she says, to get help. She was already grieving. Her husband had been sick and died before the quake came. We are staying in the streets. I feel bad for my son. His dad passed away and i have to take care of him, says hakima. People are here to help each other. The villages mosque, still standing, becomes a makeshift refuge. But in the morning we spent here, there were no signs of any official aid response. Hussein survived when his son freed him from the wreckage of their home. But his wife, fatna, was killed. My wife, she stayed in the house. The ceiling came down and struck her. This comes from god
Our top story this morning, the dow is continuing to rally, up more than 150 points as all three major indexes hit another record high earlier. For more on this, joined by chief investment strategist jim paulson. Good to have you back. Thanks for having me. We have been wondering why equities are rising in the face of rising yields some economic release disappointment clearest explanation is that even the bears are afraid of missing this train thats leaving the station. What do you say . I disagree with that in part, it is an incredible market, incredible price momentum. Maybe it is simply the resulted weve never had just breakout of optimism in all sobbiectors of economy, everything from main street to wall street looks good it is so rare in this recovery to have that feeling, it is just an unbelievable up side price momentum it is not that the markets are going up dramatically, up maybe 25 in the last year certainly good, but not like a 40 meld up run. It is more the fact it never go
Level thats needed to provide for new entrants in the labor market, we do have a strengthening economy. With policy accommodative all youre doing in raising rates is removing a bit of accommodation heading toward a neutral pace. And i see that is appropriate. Were not moving so aggressively as to put a break on continued improvement in the labor market. But i think that thats a prudent move to move in a gradual way with unemployment now. And not only the Unemployment Rate, but i think any indicator of labor Market Performance and tightness that you could look at whether its household perceptions of the availability of jobs, difficulty that firms report in hiring workers, the rate at which workers are quitting their jobs, the rate of job openings all of these indicators do signal a tight labor market. Now, with inflation below 2 , i think its appropriate that the labor market be that tight but on the other hand, i think we want to avoid the risk. We want to keep the expansion on sustain
Cash flow really strong we were 2. 7 billion pounds, over a half billion more than last year and this is what gives us the confidence in raising our guidance in Margin Expansion and in initiating a stock buyback this year of 1. 5 billion pounds. Astrazeneca shares are set for their worst oneday loss, after a key lung cancer study fails, wiping 13 billion off the drugmakers market Cap Deutsche Bank shares fall on a 10 drop in revenue, as the german financial giant suffers the same fate as itself u. S. Peers with a slump in fixed income trading well speak to the ceo, john cryan, at 11 00 cet. Downstream powers shell to a beat, as the oil giant more than triples its profits in the Second Quarter Ceo Ben Van Beurden tells us the Energy Market is regaining stability. Bhafrnlg bhafrnlgts. What we are seeing is a market cents essentially in bale market is growing fast probably more next year. And longterm supply is declining. I think we need to discuss this astrazeneca story more. Astrazeneca